AI Data Centers Drive Up Metal Demand, Tech Firms Hold Talks on Stake in Anglo American

On October 15, according to the UK Financial Times, Anglo American Group CEO Duncan Wanblad stated that the London-listed mining group has initiated discussions with several technology companies, which intend to secure metal supply by acquiring equity stakes in mining firms. Duncan Wanblad confirmed that these talks are “indeed ongoing.” He noted that the technology companies’ line of questioning is: “Can we directly secure long-term procurement agreements, or can we obtain a portion of future supply through equity investment?” Tech companies require significant quantities of copper, aluminum, steel, and various rare earth metals for product manufacturing and the construction of data centers supporting AI operations. Mining executives state that as global resource competition intensifies, technology firms are increasingly prioritizing the sourcing of these metals to ensure supply chain resilience. (Jinshi)